SOC 2 vs. Other Frameworks

For a growing number of companies, SOC 2 provides a practical and cost-effective method for building trust in their business. Based on five core criteria (security, availability, processing integrity, confidentiality, privacy) for handling information, SOC 2 compliance has become best practice across industries.

But how does SOC 2 compare with other compliance frameworks?

When weighing SOC 2 against other standards (such as HITRUST CSF, HIPAA, PCI DSS, and ISO/IEC 27001), consider the following factors:

Framework applicability to your industry and line of business
Regulatory environment where your company operates
Preferred certification/framework of your core customers
Benefits and advantages of the compliance framework
Framework-specific challenges
Average time and cost of compliance
Form of compliance validation (certification, report, attestation, etc.)

In general, the relevance of a compliance framework depends on your company’s industry, regulatory environment, and market requirements. These are just baseline considerations, however. Other factors may be crucial to your strategic goals. The following comparative summaries can help, but you should also consult trusted experts to determine the best frameworks for your company.

SOC 2 vs HITRUST CSF

HITRUST CSF and SOC 2 are both widely recognized information security frameworks, but they differ in several aspects.

HITRUST is more comprehensive because it integrates many of the elements used by multiple compliance frameworks, especially those from HIPAA (Health Insurance Portability and Accountability Act). HITRUST is a good choice for (but is not limited to) companies in the healthcare ecosystem.

On the other hand, SOC 2 focuses on auditing the internal controls for an organization’s information systems. Less comprehensive than HITRUST CSF, SOC 2 is more flexible and customizable.

Framework	SOC 2 (System and Organization Controls 2)	HITRUST CSF (HITRUST Common Security Framework)
Relative Scope	Focused on internal controls for information security	Comprehensive
Who is it for?	Any organization that handles sensitive information.	Any organization that wants a unified approach to achieving compliance with multiple regulatory frameworks.
Mandatory Requirement?	Voluntary. While not formally legislated, SOC 2 compliance has become industry best practice and a due diligence requirement for doing business with many organizations, especially during vendor selection processes.	Voluntary
Relative Cost	More affordable on average	More expensive on average
Relative Duration	Requires comparatively shorter timeline	Typically takes longer to complete
Validation Method	SOC Report with Attestation of Compliance	Certification
Recognition	Widely recognized across industries and typically a prerequisite for doing business, especially in North America	Less popular and internationally recognized than SOC 2

Ballpark Verdict: Go for HITRUST if you need a more comprehensive framework that covers a wide range of security areas. Choose SOC 2 if you need to demonstrate the effectiveness of internal controls as specifically required by your customers or partners.

SOC 2 vs HIPAA

A major U.S. legislation, HIPAA sets the regulatory standards on the protection and legal disclosure of personal health data. The law enforces patient privacy rights and provides guidelines on how organizations should handle protected health information (PHI).

Compared with SOC 2, HIPAA compliance typically costs more and takes longer to process. And while SOC 2 is voluntary, U.S. law heavily penalizes covered organizations that fail to comply with HIPAA requirements.

Framework	SOC 2 (System and Organization Controls 2)	HIPAA (Health Insurance Portability and Accountability Act)
Relative Scope	Focused on internal controls for information security	Focused on safeguarding protected health information (PHI)
Who is it for?	Any organization that handles sensitive information.	Healthcare providers such as hospitals, nursing homes, pharmacies, clinics, and doctors Health plan providers such as insurance companies and health maintenance organizations (HMOs) Healthcare clearinghouses and business associates such as medical billing services, law firms, cloud storage providers, and health management information systems
Mandatory Requirement?	Voluntary. While not formally legislated, SOC 2 compliance has become industry best practice and a due diligence requirement for doing business with many organizations, especially during vendor selection processes.	Mandated requirement in the U.S.
Relative Cost	More affordable on average	Typically more expensive especially for large organizations
Relative Duration	Requires comparatively shorter timeline	Takes longer time to complete
Validation Method	SOC Report with Attestation of Compliance	Point-in-time compliance assessment
Recognition	Widely recognized across industries and typically a prerequisite for doing business, especially in North America	U.S. federal regulation

Ballpark Verdict: If you handle PHI, then HIPAA compliance is a must. If you handle other types of confidential data, then SOC 2 is a flexible, popular, and less expensive option.

SOC 2 vs PCI DSS

A set of security standards developed by the payment card industry, PCI DSS aims to protect card holder data, establish a secure environment for payment card transactions, and prevent financial fraud.

PCI DSS is a relatively more rigorous standard while SOC 2 offers more flexibility.

Framework	SOC 2 (System and Organization Controls 2)	PCI DSS (Payment Card Industry Data Security Standards)
Relative Scope	Focused on internal controls for information security	Focused on the protection of payment card holder data.
Who is it for?	Any organization that handles sensitive information.	All merchants and service providers that store or process cardholder data.
Mandatory Requirement?	Voluntary. While not formally legislated, SOC 2 compliance has become industry best practice and a due diligence requirement for doing business with many organizations, especially during vendor selection processes.	Not legally required but compliance of covered entities is essential for unhindered and secured business operations. Noncompliant companies may be restricted from accepting card payments.
Relative Cost	More affordable on average	More expensive on average
Relative Duration	Requires comparatively shorter timeline	Takes longer duration to complete
Validation Method	SOC Report with Attestation of Compliance	Report on Compliance (ROC) issued by a Qualified Security Assessor (QSA)
Recognition	Widely recognized across industries and typically a prerequisite for doing business, especially in North America	Global standard, internationally recognized

Ballpark Verdict: If you process credit card data and fall under the framework’s covered entities, then PCI DSS is a must. On the other hand, SOC 2 is the preferred compliance standard among businesses looking for a more general, flexible, and widely recognized option.

SOC 2 vs ISO/IEC 27001

A global standard for developing and maintaining an Information Security Management System (ISMS), ISO/IEC 27001 helps organizations protect their digital assets and. Compared to SOC 2, ISO 27001 is more comprehensive, rigorous, and widely recognized.

Framework	SOC 2 (System and Organization Controls 2)	ISO/IEC 27001 (International Standards Organization/International Electrotechnical Commission 27001)
Relative Scope	Focused on internal controls for information security	Comprehensive. Focused on establishing and maintaining an effective Information Security Management System (ISMS) to help protect data.
Who is it for?	Any organization that handles sensitive information.	Tech-driven organizations whose customers, partners, or investors require ISO 27001 certification (typically companies that conduct business in Europe, Asia Pacific, and other locations around the world)
Mandatory Requirement?	Voluntary. While not formally legislated, SOC 2 compliance has become industry best practice and a due diligence requirement for doing business with many organizations, especially during vendor selection processes.	Voluntary. Compliance delivers immense value for companies that conduct business globally.
Relative Cost	More affordable on average	More expensive on average
Relative Duration	Requires comparatively shorter timeline	Takes longer to process
Validation Method	SOC Report with Attestation of Compliance	Certification
Recognition	Widely recognized across industries and typically a prerequisite for doing business, especially in North America	Internationally accepted and highly sought after. Compliance serves as a badge of high quality/excellence.

Ballpark Verdict: Arguably, ISO/IEC 27001 is the best option if you are on the lookout for a comprehensive and a globally recognized framework. On the other hand, if your business operates in North America and you prefer a more practical, flexible, and affordable compliance framework, then SOC 2 is a good choice.

Conclusion

Compliance with recognized security frameworks like SOC 2 demonstrates your commitment to data protection and privacy. These frameworks have different focuses, benefits, challenges, and costs. Adopt the frameworks that are most relevant to your organization. Remember, some standards are voluntary but are well worth complying with. For optimal outcomes, engage trusted experts who can guide you through each of the frameworks that can take your business to the next level.

Schedule a call with an expert for a free consultation.